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Markets22 Jun 2026
Five years after TDR Capital and the Issa brothers' £6.8bn leveraged buyout, Asda has posted a £989mn loss and seen its UK grocery market share fall to a record low. The question is whether the private equity playbook is compatible with running a thin-margin grocer in one of the world's most competitive retail markets.
Private EquitySupermarketsAsdaDebt
Sonal Weerasekera8 min read
Read ArticleMarketsGlobal Healthcare19 Jun 2026
Novo Nordisk and Eli Lilly have proven GLP-1 drugs can deliver surgery-level weight loss - but with patients regaining much of it after stopping, the market's real value may depend on long-term adherence rather than who wins on efficacy.
GLP-1ObesityNovo NordiskEli LillyPharmaceuticals
Abdul Wasey Bhatti5 min read
Read ArticleMarkets17 Jun 2026
The proposed takeover highlights how ownership of digital platforms is becoming just as important as ownership of the content itself.
Fox CorporationRokuStreamingMergers and AcquisitionsConnected TV
Gaurav Bohra7 min read
Read ArticleA federal court ruled Google's search dominance is illegal. The remedies are an attempt to dismantle a monopoly built on data, defaults, and self-reinforcing scale. Whether they can work is an open question.
GoogleAntitrustMonopolyNetwork EffectsCompetition
Jay Patel9 min read
Read ArticleThe new chairman of the world's most powerful central bank faces a problem his predecessor spent eight years navigating and never quite solved: inflation that won't obey. Only this time, the White House isn't demanding he fix it, it's cheering it on.
Federal ReserveInflationMonetary PolicyBank of EnglandUnited States
Raghu Kohli7 min read
Read ArticleMarketsPrivate Equity12 Jun 2026
Apollo's co-president warned of a private equity reckoning at SuperReturn in Berlin, then withdrew a £1.5bn bid for Bodycote two days later. The contradiction tells you everything about where the industry stands.
Private EquityApolloUnited KingdomMergers and AcquisitionsSpaceX
Alexander Eklund6 min read
Read ArticleMarketsPrivate Equity4 Jun 2026
As Bain and GHO rotate into Japan and healthcare, Astorg cannot raise a fund and JPMorgan quietly offloads NAV loan exposure. The private equity industry is not in a slowdown. It is in a shake-out.
Private EquityJapanHealthcareMergers and AcquisitionsArtificial Intelligence
Alexander Eklund8 min read
Read ArticleAs AI disruption freezes software heavy buyout funds and retail capital retreats, a handful of firms are moving decisively in the opposite direction. The private equity market is splitting into winners and losers in real time.
Private EquityArtificial IntelligenceMergers and AcquisitionsSoftwareIran
Alexander Eklund8 min read
Read ArticleMacro21 Apr 2026
Disruptions in the Strait of Hormuz are exposing the fragility of global trade, raising the risk that decades of hyper-globalisation begin to fragment.
Global TradeGeopoliticsShippingGlobalisation
Matthew Mahrous6 min read
Read ArticleMacro21 Apr 2026
The Iran war handed the Bank of Japan a policy trap it cannot easily escape. Holding rates to avoid a growth shock is letting the yen slide toward levels that historically trigger intervention. Hiking to defend the currency risks making the growth shock worse.
Japanese YenBank of JapanFXIranMonetary PolicyStagflation
Raghu Kohli8 min read
Read ArticleThe MPC meets on 30 April facing a textbook stagflationary bind. The evidence favours holding steady over a premature hike.
Bank of EnglandInterest RatesInflationIran WarUK Economy
Rohan Talwar11 min read
Read ArticleMarketsPrivate EquityOpinion7 Apr 2026
Buyout activity fell 36 per cent in Q1 2026 as the Gulf conflict and AI disruption to software converge to freeze dealmaking across the private equity industry.
Alexander Eklund5 min read
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